OMGI to launch Pan African fund for UK investors

clock

Old Mutual Global Investors is to launch a mirror version of its Pan African fund for UK investors.

Subject to regulatory approval, the open-ended fund will launch on 3 November this year in conjunction with the South Africa-based Old Mutual Group.

The lead manager is Cavan Osborne, who has been running African equity funds for the past three years for Old Mutual.

The fund is a mirror of an existing South African-registered product. It holds between 30 and 40 high conviction stocks, with a third of the fund invested in South Africa, a quarter in Nigeria and 8.8% in Egypt.

It will be seeded with $50m by the group, and allowed to grow to a maximum size of $750m (£450m). The holdings in South Africa and overseas companies with activities in Africa are expected to grow as the fund expands, in order to preserve liquidity. At present, 40% of the fund can be liquidated in 15 days.

The fund will be registered in Dublin, and will have a base currency of US dollars.

Speaking about the upcoming launch, OMGI chief executive Julian Ide said: "At launch, this fund will be one of the biggest Pan-African funds available in the market without about $100m under management.

"It already has an established investment track record and we believe it will be highly attractive to UK and off-shore investors."

One quarter of the fund is in financials, more than a fifth is in consumer staples and there are also large holdings in the consumer discretionary and telecoms sectors. The fund has a dividend yield of roughly 3.6%.

More on Investment

Partner Insight: Atoms - Identifying structural long-term trends driving sustainable investing

Partner Insight: Atoms - Identifying structural long-term trends driving sustainable investing

In the first of three-part series, Sebastien Beguelin, Senior Fund Manager, looks at ’atoms’ – representing investments into the physical world – and how this long-term trend is represented in our sustainable fund range

Sebastien Beguelin, Senior Fund Manager, Royal London Asset Management
clock 18 August 2025 • 4 min read
Mondrian Investment Partners' Aileen Gan: Japanese equities offer compelling alternative to US

Mondrian Investment Partners' Aileen Gan: Japanese equities offer compelling alternative to US

'Resilient and attractively valued'

Aileen Gan
clock 14 August 2025 • 4 min read
UK investors back defence over AI for the rest of 2025

UK investors back defence over AI for the rest of 2025

British defence firms' shares rising in value

Patrick Brusnahan
clock 30 July 2025 • 1 min read
Trustpilot